Talk that fieldwork activity is picking up across the Midwest is pressuring futures, although next week's weather pattern has turned more active, which suggests only a small window of opportunity for planting is ahead for portions of the Midwest this weekend.

Otherwise, there's little fresh news for the market to digest, meaning focus will be on position squaring ahead of the weekend.

Gulf corn basis is steady for immediate delivery to stand 65 cents over May futures. Basis for June through August delivery is 1 to 8 cents firmer this morning due to anticipated tighter supplies.

Soybean futures are called 2 to 6 cents lower on profit-taking following yesterday's gains.

Pressure is being limited by weakness in the dollar index, although outside markets are mixed as crude oil is weaker and gold is firmer.

The International Grain Council has lowered China's soybean import forecast by 2 MMT to 59 MMT for the marketing year ending Sept. 30 due to bird flu.

Gulf soybean basis is 5 cents weaker for immediate delivery to stand 90 cents over May futures. But basis for June delivery is up 10 cents due to expectations for tighter supplies.

Wheat futures are called 4 to 7 cents lower on end-of-the-week profit-taking.

Chicago and Kansas City wheat futures ended the overnight session 5 to 7 cents lower, with Minneapolis down 2 to 8 cents lower in all but the front-month contract that ended firmer.

Following yesterday's gains, traders are opting to take some profits out of the market.

Futures were supported by crop concerns yesterday, although inconsistent demand has limited the market's ability to post a strong weather rally.

Traders will get first-hand news about the HRW wheat crop next week as scouts travel through the Plains gathering yield data.

Live cattle futures are called to open steady to firmer on spillover from yesterday's gains.

Live cattle futures are expected to build on yesterday's gains after the market posted a high-range close.

But buying will be limited as traders wait on cash cattle trade to begin. After yesterday's strength in futures some packers raised bids, which is lending to expectations for $1 higher trade with last week's $126 to $127 trade.

Traders haven't been impressed with the boxed beef market this week, although prices have firmed slightly.

Feeder cattle futures are expected to see a lift from weakness in the corn market.

Nearby lean hog futures are called to open steady to firmer on expected cash strength.

Nearby lean hog futures finished firmer yesterday, with deferred futures weaker. Upside potential for nearby futures will likely be limited this morning as these contracts hold a sizable premium to the cash index.

Overall strength in the pork cutout market and tighter market-ready supplies has improved demand for cash hogs this week.

Packers' profit margins have tightened slightly, but they remain in the black. As a result, steady to firmer cash bids are expected.